Democrat President Joe Biden snapped at Fox News reporter Peter Doocy on Monday after Doocy asked him about inflation and the upcoming midterm elections.
“Do you think inflation is a political liability for midterms?” Doocy asked.
“It’s a great asset, more inflation,” Biden responded. “What a stupid son of a b****.”
WATCH: Joe Biden calls a reporter asking about inflation a “stupid son of a bitch.” pic.twitter.com/1QiJzZs6HY
— RNC Research (@RNCResearch) January 24, 2022
The attack on Doocy followed an attack that Biden made on Fox News reporter Jacqui Heinrich last week after Heinrich asked Biden about the ongoing situation in Ukraine.
“Why are you waiting on Putin to make the first move, sir?” Heinrich asked in reference to Biden not taking noticeable action to deter Russian aggression.
Biden laughed and said, “What a stupid question.”
The exchange came after who served as Treasury Secretary under former President Bill Clinton and director of the National Economic Council under former President Barack Obama, warned earlier this month that the U.S. is moving toward “higher entrenched inflation.”
“I think the data flow is saying what I’ve thought for quite some time that, yes, there are transitory elements in inflation, and very likely they will recede, but we are basically moving towards higher entrenched inflation,” Summers said. “It’s there in expectations, it’s there in wages, it’s there in labor shortages, it’s there in the pervasive pattern across many different prices.”
“And people try to excuse it by picking this figure and that figure from month to month, but we’ve got an overheated economy, and the Fed’s gonna have a very real challenge of cooling that economy off and doing it in a controlled way,” he continued. “That has not been done very successfully in the past. So it’s going to be a very challenging year for macroeconomic policy.”
When asked if top White House officials were right in saying that the inflation problem was a result of “a supply side problem,” Summers responded, “No, he’s wrong.”
“We have a massive, overheated labor market,” Summers continued. “We have the highest ratio of vacancies to unemployment in the country’s history, by a large margin. We have shortages of labor, in everything from psychotherapy, to McDonalds, in everything from investment analysts to gardeners, that suggests a surfeit of purchasing power and demand relative to the capacity of the economy to produce and unless we bring those things into balance, we’re going to have not just higher inflation, but possibly even accelerating inflation. And we need to recognize that we have an overheated economy that we are going to need to cool off.”
Summers later added, “Every time a Washington policy maker suggests that this is caused by corporate greed or some such, they are delaying the date at which we will achieve the credibility necessary to bring down inflation with stable employment.”